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Diwali gifts: Taxable or tax-free? Decoding the rules for a hassle-free festival

Gifts received from relatives during Diwali are completely exempt from taxation under the provisions of the Income Tax Act. However, when it comes to gifts from non-relatives, the tax rules and guidelines differ. ....

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When is money gifted not taxable? All your tax queries on gifts answered

In India, if an individual receives a gift, whether it's cash, immovable property, or any other item of value exceeding Rs. 50,000 from a non-relative, it generally falls under taxable income. ....

Pallav Pradyumn Narang , Pradyumn Narang , Ankit Jain , Karan Batra , Sandeep Bajaj , Ved Jain Associates , Income Tax Act , Income Tax , Ved Jain , Managing Partner , Long Term Capital Gains , Income Tax Returns , Education Cess , Gifts Received , Income Earned ,